Alpha Metallurgical Resources (NYSE:AMR) Cut to “Hold” at Texas Capital

Texas Capital downgraded shares of Alpha Metallurgical Resources (NYSE:AMR) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alpha Metallurgical Resources in a report on Monday, December 29th. Jefferies Financial Group raised their target price on Alpha Metallurgical Resources from $165.00 to $205.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alpha Metallurgical Resources presently has a consensus rating of “Hold” and a consensus price target of $188.00.

Alpha Metallurgical Resources Price Performance

AMR stock opened at $209.89 on Thursday. The firm has a market cap of $2.70 billion, a PE ratio of -58.96 and a beta of 0.79. Alpha Metallurgical Resources has a 12 month low of $97.41 and a 12 month high of $253.82. The firm has a 50 day simple moving average of $203.89 and a 200 day simple moving average of $170.01.

Alpha Metallurgical Resources (NYSE:AMR) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.07). The business had revenue of $526.78 million during the quarter, compared to the consensus estimate of $543.77 million. Alpha Metallurgical Resources had a negative net margin of 2.09% and a negative return on equity of 2.88%. The company’s quarterly revenue was down 21.6% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. As a group, sell-side analysts expect that Alpha Metallurgical Resources will post 14.31 earnings per share for the current year.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, Director Kenneth S. Courtis purchased 9,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average cost of $188.16 per share, with a total value of $1,693,440.00. Following the acquisition, the director directly owned 816,537 shares of the company’s stock, valued at approximately $153,639,601.92. This trade represents a 1.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel E. Horn sold 8,125 shares of Alpha Metallurgical Resources stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $188.32, for a total value of $1,530,100.00. Following the completion of the transaction, the insider owned 4,989 shares of the company’s stock, valued at approximately $939,528.48. The trade was a 61.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired a total of 98,576 shares of company stock worth $17,994,174 in the last three months. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMR. Financial Management Professionals Inc. bought a new position in shares of Alpha Metallurgical Resources in the third quarter worth about $25,000. Hantz Financial Services Inc. grew its stake in shares of Alpha Metallurgical Resources by 361.5% during the third quarter. Hantz Financial Services Inc. now owns 240 shares of the energy company’s stock valued at $39,000 after purchasing an additional 188 shares during the last quarter. CWM LLC increased its holdings in shares of Alpha Metallurgical Resources by 146.0% in the third quarter. CWM LLC now owns 246 shares of the energy company’s stock valued at $40,000 after purchasing an additional 146 shares in the last quarter. Farther Finance Advisors LLC raised its position in Alpha Metallurgical Resources by 48.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the energy company’s stock worth $43,000 after purchasing an additional 87 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Alpha Metallurgical Resources by 85.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 380 shares of the energy company’s stock worth $62,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

Alpha Metallurgical Resources Company Profile

Alpha Metallurgical Resources, Inc (NYSE: AMR) is a leading pure-play producer of high-grade metallurgical coal, primarily serving the global steelmaking industry. Headquartered in Bristol, Virginia, the company operates multiple underground and surface mining complexes across the central Appalachian and Illinois basins. Its production portfolio focuses on premium raw and semi-soft coking coal products tailored to meet the specifications of steel producers worldwide.

Formed in July 2021 through the spin-out of Contura Energy’s metallurgical coal business, Alpha Metallurgical Resources has built a reputation for operational excellence and cost-efficient mining.